Further to the external merchandise trade statistics in value terms for November 2017 released earlier on, the Census and Statistics Department (C&SD) released today (January 18) the volume and price statistics of external merchandise trade for that month.

In November 2017, the volume of Hong Kong's re-exports of goods increased by 5.7% over November 2016, whereas that of domestic exports decreased by 0.9%. Taken together, the volume of total exports of goods increased by 5.6%. Concurrently, the volume of imports of goods increased by 6.3%.

Comparing the first eleven months of 2017 with the same period in 2016, the volume of Hong Kong's re-exports of goods increased by 6.5%, whereas that of domestic exports decreased by 0.4%. Taken together, the volume of total exports of goods increased by 6.4%. Concurrently, the volume of imports of goods increased by 6.8%.

Comparing the three-month period ending November 2017 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 2.0%. Within this total, the volume of re-exports increased by 2.0%, while that of domestic exports increased by 7.9%. Concurrently, the volume of imports of goods increased by 2.5%.

Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.

Comparing November 2017 with November 2016, the prices of re-exports of goods increased by 2.2%, while those of domestic exports increased by 1.3%. Taken together, the prices of total exports of goods increased by 2.2%. Concurrently, the prices of imports of goods increased by 2.2%.

As regards price changes in the first eleven months of 2017 over the same period in 2016, the prices of re-exports of goods increased by 1.8%, while those of domestic exports increased by 2.1%. Taken together, the prices of total exports of goods increased by 1.8%. Concurrently, the prices of imports of goods increased by 1.9%.

Price changes in external merchandise trade are reflected by changes in unit value indices of external merchandise trade, which are compiled based on average unit values or, for certain commodities, specific price data.

The terms of trade index is derived from the ratio of price index of total exports of goods to that of imports of goods. Compared with the same periods in 2016, the index decreased by 0.1% in both November 2017 and the first eleven months of 2017.

Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.

Comparing November 2017 with November 2016, double-digit increases were recorded for the total export volume to India (+17.8%) and Japan (+13.0%). Concurrently, the total export volume to Vietnam, the mainland of China (the Mainland) and the USA increased by 7.2%, 7.2% and 5.2% respectively.

Over the same period of comparison, the total export prices to the Mainland, the USA, Vietnam and Japan increased by 2.8%, 2.5%, 2.1% and 1.0% respectively. On the other hand, the total export prices to India decreased by 0.5%.

Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.

Comparing November 2017 with November 2016, a double-digit growth of 16.2% was recorded for the import volume from Korea. Concurrently, the import volume from the Mainland, Taiwan and Singapore increased by 4.5%, 1.8% and 1.0% respectively. On the other hand, the import volume from Japan decreased by 0.9%.

Over the same period of comparison, the import prices from all main suppliers increased: Korea (+5.2%), Taiwan (+3.4%), Singapore (+2.8%), the Mainland (+2.0%) and Japan (+0.9%).